CertAsig celebrates 15 years of underwriting risk and paying claims to its corporate clients
CertAsig is proud to announce its fifteenth anniversary, the private-equity owned insurance company has been demonstrating commitment to service local broker markets and clients’ since 2003. Innovation is part of the CertAsig story, it is in its DNA, always looking to add value through smart underwriting and followed up by fair claims payment.
CertAsig was founded back in 2003, as a result of the merger between Fortuna SA and Aroca, a Romanian-Canadian Insurance Company. In December 2007, CertAsig was bought by Royalton Capital Investors II, a private equity investment fund focused on acquiring and developing services sector companies throughout the new European countries of Central and Eastern Europe.
In 2010, James Grindley was appointed Chief Executive Officer of CertAsig and a new team was built which aimed for high quality and standards encouraging a wide market acceptance. To support local marine and general aviation clients, CertAsig opened a representative office in Istanbul, in 2012, and a branch in Sofia, in 2013. The company positioned itself as a regional Black Sea insurer active in Romania, Bulgaria and Turkey, employing 80 insurance professionals dedicated to solid broker and client relationships.
Setting a standard of excellence in the market was one of the fundamental goals, supported by the whole team who worked consistently to achieve this goal. In turn CertAsig became a reliable, trusted and recognised insurance company.
2013 and 2014 were also key milestones in CertAsig’s life. The company posted 21% growth in total Premiums, generating substantial growth for the fourth consecutive year. Growth specifically derived from clients in the construction industry (+45%) and from the transportation and logistic industries (+78%).
CertAsig continued in 2016 and 2017 to be committed to future sustainable growth and continued to positively provide corporate clients with tailored products supporting their businesses. The entire strategy is backed as usual by a strong reinsurance program that ensures a quick and professional support of its clients whenever in need.
Over the last 10 years, CertAsig has paid more than RON 200,000,000 of claims. The single largest claim was RON 22,000,000 for a marine liability claim, paid in 2018. These are impressive figures and underline CertAsig’s commitment to deliver.
As CertAsig’s CEO summarised recently in a presentation to broker partners “CertAsig and its team is proud to have delivered on so many promises in the last 15 years. The same dedicated team looks forward to the next 15 successful years!”